😱🚀🚀Critical comment from analysts: Altcoin season is very close!
Analysts are speculating again about a potential start of the sub-season after the recent increase in the total #altcoin market value, including Ether, which is currently approaching a significant resistance level.
Crypto traders and analysts are watching altcoins after Ether's 27 percent gain in the last seven days. According to TradingView, the total market capitalization of altcoins is currently around $ 1.16 trillion. It has risen by 15 percent in the past two weeks and is approaching the resistance levels of mid-March, when it exceeded $ 1.2 trillion.
On May 26, ‘Trader Tardigrade’ told his 50,000 followers on X that if the altcoin market manages to get rid of the “inverted head-and-shoulders model”, the total market value could triple. ”According to this structure, a fracture is expected in a few weeks," he added.
Crypto experts are hopeful about the altcoin market!
On May 26, trader and analyst ‘Rekt Capital’ observed that the altcoin market value will reach its highest weekly close since the beginning of April 2024. Meanwhile, technical analyst 'Y Decdha' said in a post on X on May 26: “We expect a crazy rise in altcoins when it breaks above the weekly resistance”.
Analyst 'Moustache' also shared a similar graph with his 120,000 followers on X, saying, “Sub-season is very soon.”
Analysts also observed that in previous cycles, #BTC Ether, and then altcoin markets moved first, as capital tended to flow from the chain to lower-value cryptocurrencies. Sunday Sunday's dominance of the Bitcoin market has declined by 3.7 percent to 53.9 percent over the past two weeks, another sign that the altcoin market is strengthening.
